Below is a statement from ALG President Bill Wilson calling on Congress to make the tax cuts of 2001 and 2003 permanent before the midterm elections:
"The American people have a right to know where their representatives stand on the imminent tax increases at year's end before the elections occur, not after. Nancy Pelosi is not holding any votes now because she knows the House would vote to block these onerous, automatic tax hikes. That's not good policy, and it's not even good politics.
"These automatic tax hikes are a trap, and the American people have a right to know now if Congress intends to allow this trap to be sprung. If Congress does nothing, its inaction will be rightly viewed as a vote in favor of increasing taxes on all Americans. This endangers the economy, and puts even more strain on job creators at a time when unemployment is persistently high at 9.6 percent and growth is slowing at an anemic 1.6 percent rate.
"Job creators need all the help they can get to turn this economy around. American entrepreneurs must know what future rates of taxation are going to be in order to make wise investment and hiring decisions that allow the robust U.S. economy to be unleashed. This uncertainty has found the economy caught in a web. Nobody is going to pull the trigger on hiring in this environment.
"It's time to end the economic uncertainty surrounding whether or not the rates will rise or not. The current rates should be made permanent. But right now, job creators must assume the worst, which is that this Congress fails to fulfill its basic obligation to create an environment conducive to robust growth. Both the House and the Senate need to set aside partisan politics and give the American people an up or down vote to block all of these automatic tax increases, before it's too late."